CCL acquires Singapore labels company for US$39m

SINGAPORE - CCL Industries has acquired Zephyr Company Pte Ltd, a privately owned company headquartered in Singapore with two subsidiaries in Malaysia.

CCL has acquired 100% of the outstanding equity interest in the Singapore company – which includes a manufacturing facility - and the two Malaysian entities in Penang and Johor from multiple private shareholders.

Zephyr is a major labels converter focused on customers in the electronics industry. In the financial year of 2015, the company earned sales of about US$36 million with an adjusted EBITDA estimated at US$6 million.

Upon completion of the transaction, Zephyr will change its trading identity to CCL Design. CCL says the business unit will… For the full story, subscribe to Packaging Business Insight Asiahere.